Marketing tools to turn vacancies into occupancies are worth a fortune. Like the technologies offered by Appfolio, there are many common sense methods to focus on your area’s target market. Each one of the following suggestions is not only intended to help you zoom in on new ways to attract a stream of potential tenants. […]
Posted on 29. Jul, 2014.
Big news this week from Zillow and Trulia! Zillow will be acquiring Trulia to become the largest online real estate advertising company. Zillow and...
Posted on 22. Jul, 2014.
Many young renters across the United States have decided to forego larger apartments for a better location or amenities. “They’re sacrificing living space for...
Posted on 09. Sep, 2014 by Mary Girsch-Bock.
The Wall Street Journal recently noted that the share of new homes being built as rental apartments is at its highest level in four decades. While it certainly helps the economy, an increase in apartment homes can strike fear in the hearts of many property managers. After all, these newer units will likely boast state […]
Posted on 03. Sep, 2014 by Marc Courtenay.
As the summer season slides to a close it’s good to remember that our work should be enjoyable. If our demanding profession begins to wear us down it’s probably time to do something about it. Recently I touched basis with a colleague who’s been in the property management business for over 40 years. I won’t […]
Posted on 28. Aug, 2014 by Marc Courtenay.
The U.S. economy has come a long way from the frightening fiscal collapse that happened at the end of the Bush administration in 2008. The Obama administration inherited the worst economic crisis since the Great Depression. The Federal Reserve has been managing America’s monetary policies since 1913. Once former Fed Chairman Ben Bernanke saw the […]
Posted on 26. Aug, 2014 by Ted Kimball.
One of the longest delays in processing evictions occurs when not all occupants are served personally (hand to hand) with the unlawful detainer summons and complaint. More often than not, the occupants know they must be legally served in order for the court to award a judgment for possession of the subject property. If they […]
Posted on 19. Aug, 2014 by Marc Courtenay.
Don’t let the lazy, crazy, hazy days of summer lull your property management business to sleep. Wake it up with timely communiqués that you send to your clients and potential clients. For example, why not ignite their imaginations with information about equity-based crowd-funding that specializes in real estate investment opportunities. I recently interviewed the co-founder […]
Posted on 12. Aug, 2014 by Alexis Hammond.
If you’re using Quickbooks to run your property management business, you may be experiencing common frustrations as you continue to grow. As a basic accounting software, Quickbooks only covers a fraction of your day-to-day property management activities. Learn more with this important slideshow on the reasons why your property management business may have outgrown Quickbooks. […]
I understand that most of us are averse to change. Just the thought of changing a familiar product can make the most competent people break out into a cold sweat; even if that familiar product has resulted in more work and increased mistakes. Let’s take a quick look at some of the repercussions of Jill’s […]
Posted on 31. Jul, 2014 by Alexis Hammond.
This easy guide and checklist lays out the steps in detail for you to start modernizing your business today. Stop wasting time with outdated processes and archaic resources and start spending more time streamlining your workflow and growing your business! This guide offers tips you won’t want to miss, including: How to reinvigorate and empower […]
Once upon a time there was a woman we’ll call Jill. Jill worked in a fairly large property management company that handled both commercial and residential property management, so Jill was kept busy. When Jill became a property manager, she was trained on the company’s property management software. The software was adequate, but didn’t perform […]
In a recent article, Multifamily Executive tells readers the 5 reasons why occupancy is growing stronger in the United States. One reason that has been a constant trend is that many people are scared of owning their own homes due to the foreclosure crisis in 2000 and again in 2008. Click below to read the […]
Posted on 17. Jul, 2014 by Marc Courtenay.
On Tuesday July 15 Fed Chair Janet Yellen said more than Congress and most managers were anticipating. Her carefully prepared comments are a big insight into how those who control America’s monetary policies are thinking. According to a report by USA Today Federal Reserve Chair Janet Yellen told Congress the economy is improving but still […]
Posted on 15. Jul, 2014 by Marc Courtenay.
Property managers work hard for their money. Everybody talks about increases in the cost-of-living and rents rising, but how about the people who make rentals available? Yes, I’m referring to your clients the owners, and you, the liaisons between the residents and the “landlords”. When’s the last time your clients called and said, “You deserve […]
Often, when renting an apartment, tenants are overwhelmed by the amount of information they are given, from the initial apartment viewing, to filling out the application, to getting approved, to finally, moving in. While it’s important to let all prospective residents know and understand the rules they must abide by when moving into their new […]
Too many property managers aren’t aware of the free tools offered by a familiar online company. You’ve heard of Yelp, but did you know that 132 million people use it monthly for buying decisions? The most recent data suggests there are over 57 million reviews on Yelp. More importantly 82% of Yelp users go there […]
Years ago, while living in Las Vegas, a summer thunderstorm wreaked havoc on my apartment. Lightning eventually struck the roof of my loft, creating a fairly significant hole in the roof. Since it was late, I placed a bucket under the hole to catch the still-falling rain and called the management office to report the […]
Posted on 20. Jun, 2014 by Marc Courtenay.
One of the challenges in the management of rental properties involves collecting from residents behind on rent payment. Knowing the laws which govern the methods used for collection is a vital first step. We can debate how far we’d push the envelope to make sure the rent is collected, but the key to avoiding legal […]
Whether you’re following your passion or just trying to be successful at what you do for a living, it always counts to be in that esteemed group we call “outstanding”. There is more research surfacing that gives practical guidance on the characteristics of those who flourish and those who flounder. It’s not just motivation that […]
As important as it is for property managers to ensure that rent is received on a timely basis; rental collection is not just important to property managers. Surveys have shown that residents also want an easier way to pay rent. While many smaller management companies have continued to accept checks, many have done away with […]
Posted on 13. Jun, 2014 by Marc Courtenay.
The responses to my last article on filling vacancies fielded excellent suggestions from property managers. This kind of feedback offers ideas that are working now! Of course the ideas I shared in my series “50 Ways to Fill Your Vacancies” work well in today’s market. Yet those from our readers are personal favorites, innovative and […]
In older generations, renting an apartment was typically viewed as a temporary measure; with the ultimate goal being home ownership. A lot has changed since then. The epic housing melt-down has driven more renters into the market. And many young professionals are seeing apartments as a reflection of their tastes and personality, not as a […]
We all know that in the property management arena, managers typically have one chance to make a good first impression on prospective residents. So the last thing managers want is a cluttered mess to be the first thing that applicants see. We all become immune to our surroundings, seeing only what we want to see. […]
Other than filling vacancies, there are few topics more important for Property Managers than how to make sure your residents pay their rent on time and securely. From a behavioral vantage point, there are several effective ways to empower residents to pay their rent or lease payment on time, month after month. Here are three […]
The term risk management can mean different things to different people. But in short, effective risk management is concerned with both the financial and human consequences of unforeseen events. To effectively manage their properties, managers should make a concerted effort to become better educated in risk management; starting with identifying possible risks at each property, […]
Posted on 20. May, 2014 by Marc Courtenay.
On Friday May 16 the economic numbers turned Goldilocks-style “not to cold and not too hot”, and property managers need to be on top of these developments. First of all, the interest rate on the benchmark 10-year U.S. Treasury bond dropped to 2.5% from 2.7% in just one week’s time. That’s a 7.4% plunge, and […]